The Finnish government plans to open its gambling market to foreign operators
The proposed reforms will eliminate Veikkaus's monopoly in the iGaming sector, enabling international operators to offer their services while adhering to Finnish laws and paying taxes. However, the state-owned company will retain exclusive rights to lotteries, instant win games, slot machines, and land-based casinos to maintain control over the most high-risk forms of gambling.
Under the reforms, private operators will be able to apply for licenses starting in early 2026. A new regulatory body will be established to oversee the industry and ensure compliance with the law. Proponents of the reforms believe that a competitive market will boost tax revenues and enhance oversight of the iGaming sector.
According to the Finnish Competition and Consumer Authority, half of the gambling revenue in the country currently goes to foreign operators. A regulated market with a high proportion of legal companies would not only increase tax income for Finland but also create safer conditions for players, reducing the outflow of funds to offshore platforms.
The bill will undergo months of debate in parliament, where the future of horse racing betting is also being discussed. There have been proposals to include it in the commercial gambling segment, allowing foreign companies to participate in this sector. If the bill is approved, Finland will enter a transitional period as early as 2025, establishing a new regulatory body and preparing the market for licensing.
It is worth noting that the Finnish government has been considering the adoption of a new gambling law.
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